By the power of Grayskull, will the guy behind JUSTIN BIEBER: NEVER SAY NEVER and the upcoming GI JOE : RETALIATION be handed the keys to Eternia?

According to Deadline, maybe! Talks between Chu and Sony have just gotten underway as the director simultaneously prepares to shoot new material for his waaay pushed back GI Joe sequel (which is also currently in the process of being post-converted to 3D). If you somehow don't know what the heck MASTERS OF THE UNIVERSE is about, it "revolves around He-Man, a prince who transforms into a warrior and becomes the last hope for a magical world that has been ravaged by the sinister Skeletor."

This is the same project that's been making the development rounds for years now (formerly and simply titled GRAYSKULL). This most current iteration of the project comes scripted by Alex Litvak and Mike Finch, the guys behind THE THREE MUSKETEERS and PREDATORS. Films like that don't exactly fill me with hope for this, but supposedly Litvak and Finch's script is pretty good. So we shall see...

Extra Tidbit:

There was once a MASTERS OF THE UNIVERSE script that was said to be great! They're not using it anymore (of course), but you can still read about it RIGHT HERE.